What is a merger?
The current Ethereum mainnet will eventually “merge” with the Beacon Chain proof-of-stake system.
This will mark the end of Ethereum’s proof-of-work, and a full transition to proof-of-stake.
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"The Merge" aims to transform the Ethereum blockchain from the current proof-of-work (PoW: proof-of-work) consensus mechanism to a faster, safer and more energy-efficient proof-of-stake (PoS: proof-of-stake). This upgrade represents an official shift to PoS consensus. Eliminates the need for energy-intensive mining and instead uses staked ether to secure the network. This is a really exciting step towards realizing the vision of Ethereum - more scalability, security and sustainability.
What is the role of the Beacon Chain?
The Beacon Chain is the ledger of accounts that manages and coordinates the network of stakers. It's not quite like the Ethereum mainnet today. It does not handle transactions or smart contract interactions. It is a new consensus engine (or "consensus layer") that will soon replace PoW, bringing many significant improvements. The role of the beacon chain will change over time, but it is a foundational component for a secure, green, and scalable Ethereum.
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Introduce pledge
Staking is similar to mining, but differs in many ways. Mining requires significant upfront expenditures in the form of powerful hardware and energy consumption, thereby generating economies of scale and promoting centralization. Mining also does not require locked assets as collateral, which limits the ability of the protocol to punish bad actors after an attack. In contrast, the transition to PoS proof-of-stake will make Ethereum more secure and decentralized. The more people participating in a network, the more decentralized it is and the less vulnerable it is to attacks.
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Mainnet merge
Once ready, the ethereum mainnet will "merge" with the beacon chain as its own shard, using proof-of-stake instead of proof-of-work. The mainnet will bring the ability to run smart contracts to the proof-of-stake system, coupled with the full history and current state of Ethereum to ensure a smooth transition for all Ethereum holders and users.
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This will mark the end of Ethereum PoW and usher in a more sustainable and greener Ethereum era. At this point, Ethereum will be closer to achieving full scalability, security, and sustainability as described in its Ethereum Vision. Essentially, the goal of the merger is to speed up the process from proof-of-work to proof-of-stake. To speed up the transition, developers are working to reduce features that could cause delays and temporarily disable the ability to withdraw staked ETH after the merger is complete. However, these will likely be addressed in a post-merge "cleanup" upgrade.
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Ethereum upgrades are all interconnected. Review how the beacon chain affects other upgrades.
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First, the beacon chain exists separately from the Ethereum mainnet we use today. But eventually they will connect. The plan is to "merge" the mainnet into a proof-of-stake system controlled and coordinated by the beacon chain.
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Sharding and the Beacon Chain
Sharding can only safely enter the Ethereum ecosystem if the Proof-of-Stake consensus mechanism is in place. The beacon chain introduced staking, and when “merged” with the mainnet, it will pave the way for sharding and help Ethereum scale further.
